Against the background of the ongoing integration of the European energy markets European Energy Exchange AG (EEX) will launch the Spot Market for Power for Switzerland on 11 December. At first, daily hourly auctions are to be launched. The trading process provides for an independent Swiss market area to be formed for which separate pricing will be carried out.
With this measure EEX complies with the wish of the Swiss shareholders and trading participants which are strongly represented overall. In total, 19 trading participants from Switzerland trade on EEX. Ten Swiss companies hold 29 per cent of the shares in EEX AG. Moreover, the strong Swiss position is underlined by the fact that four Swiss companies are represented on the exchange council of EEX, which is headed by Dr. Jacques Piasko from the management of EGL Elektrizitäts-Gesellschaft Laufenburg AG.
“We consider the fact that we are so welcome on the Swiss market a further proof of confidence in our position as a liquid and safe exchange“, Dr. Hans-Bernd Menzel, head of the management board of European Energy Exchange AG, stated pleased on the occasion of an opening event with Swiss market participants in Zurich.
Test calculations for the Swiss market area will be carried out with the trading participants in a Xetra JETS-GUI simulation environment during calendar week 49 before the independent Swiss Spot Market will be launched on 11 December.
European Energy Exchange operates a Spot and Derivatives Market for power and CO2 emission allowances. With currently 156 trading participants from 19 countries, it is the energy exchange in continental Europe which boasts the largest number of trading participants and the highest volume traded. On 2 May 2006 EEX became the first exchange in Europe to offer OTC clearing of coal contracts as well as trading in coal futures.
